Galesburg Radio 14 WGIL » taxeshttp://wgil.com/v3
Radio designed for the people of GalesburgTue, 31 Mar 2015 16:45:44 +0000en-UShourly1http://wordpress.org/?v=4.1.1Tax Hike Still Possible as IL Lawmakers Tackle Budgethttp://wgil.com/v3/2015/02/20/tax-hike-still-possible-as-il-lawmakers-tackle-budget/
http://wgil.com/v3/2015/02/20/tax-hike-still-possible-as-il-lawmakers-tackle-budget/#commentsFri, 20 Feb 2015 17:43:35 +0000http://wgil.com/v3/?p=25644SPRINGFIELD, Ill. (AP) — Gov. Bruce Rauner’s first shot at a state budget didn’t include new taxes. But no one should assume the ultimate solution to Illinois’ budget crisis won’t involve opening their wallets.

Top Democrats who control the Legislature say they’ll keep pushing for a tax increase to avoid some of the huge cuts Rauner proposed Wednesday. Those cuts would hit programs like Medicaid and mental health care.

Rauner and some of his fellow Republicans also are leaving the door open to new revenue as they try to close a more than $6 billion budget hole next year.

]]>SPRINGFIELD, Ill. (AP) — Gov. Bruce Rauner’s first shot at a state budget didn’t include new taxes. But no one should assume the ultimate solution to Illinois’ budget crisis won’t involve opening their wallets.

Top Democrats who control the Legislature say they’ll keep pushing for a tax increase to avoid some of the huge cuts Rauner proposed Wednesday. Those cuts would hit programs like Medicaid and mental health care.

Rauner and some of his fellow Republicans also are leaving the door open to new revenue as they try to close a more than $6 billion budget hole next year.

The heavy machinery maker says it got a subpoena Jan. 8 asking for information relating to “the movement of cash among U.S. and non-U.S. subsidiaries.” Caterpillar says it’s cooperating with the investigation.

The Herald & Review reports the investigation was revealed by Caterpillar in a document filing Tuesday with the Securities and Exchange Commission. Caterpillar also disclosed that the federal agency told the company in September that it was conducting an “informal investigation” into its structured finance arm.

Caterpillar drew criticism in a congressional report last year, which said the company had bilked the federal government out of $2.4 billion in taxes by shifting profits overseas. Caterpillar executives said in hearing that the company pays everything it owes.

]]>PEORIA, Ill. (AP) — Caterpillar Inc. says a federal grand jury is investigating the Peoria-based company’s financial dealings in the U.S. and abroad.

The heavy machinery maker says it got a subpoena Jan. 8 asking for information relating to “the movement of cash among U.S. and non-U.S. subsidiaries.” Caterpillar says it’s cooperating with the investigation.

The Herald & Review reports the investigation was revealed by Caterpillar in a document filing Tuesday with the Securities and Exchange Commission. Caterpillar also disclosed that the federal agency told the company in September that it was conducting an “informal investigation” into its structured finance arm.

Caterpillar drew criticism in a congressional report last year, which said the company had bilked the federal government out of $2.4 billion in taxes by shifting profits overseas. Caterpillar executives said in hearing that the company pays everything it owes.

The Illinois Department of Revenue says they’ll be delayed by new security measures being implemented to deter identity theft and fraud.

Agency spokesman Terry Horstman tells the State Journal-Register in Springfield that it could take a week or longer — rather than days — to get returns once taxes are filed. Both paper and electronic filings will be affected, though electronic filings still will be quicker.

The Illinois Department of Revenue says they’ll be delayed by new security measures being implemented to deter identity theft and fraud.

Agency spokesman Terry Horstman tells the State Journal-Register in Springfield that it could take a week or longer — rather than days — to get returns once taxes are filed. Both paper and electronic filings will be affected, though electronic filings still will be quicker.

]]>http://wgil.com/v3/2015/01/19/new-security-measures-to-delay-illinois-income-tax-returns/feed/0Affordable Care Not as Easy for Those Who Buy Outsidehttp://wgil.com/v3/2015/01/12/affordable-care-not-as-easy-for-those-who-buy-outside/
http://wgil.com/v3/2015/01/12/affordable-care-not-as-easy-for-those-who-buy-outside/#commentsTue, 13 Jan 2015 00:17:04 +0000http://wgil.com/v3/?p=23037Those who have insurance from their employer and individuals on plans like medicare and medicaid will have minimal issues with their taxes this collection year…those who buy outside insurance may not have it so easy.

Multiple things for outside buyers may impact the significance of your tax return this year..if you purchased your insurance.

Action Income Tax enrollment agent Peg Gasow tell WGIL’s Galesburg Live that those people who “went to the market” will see a much different return scenario than those who did not.

“You had told the marketplace you make $35,000 a year, and you told them there’s you and two kids, and they gave you a suggestion of a different policy, you chose one, and then there was a subsidy of $400. At this point in time, that was a Health and Human Services function,” said Gasow.

Gasow says that her company can not file a return without a ten ninety five form, which could be an additional issue for some outside buyers.

]]>Those who have insurance from their employer and individuals on plans like medicare and medicaid will have minimal issues with their taxes this collection year…those who buy outside insurance may not have it so easy.

Multiple things for outside buyers may impact the significance of your tax return this year..if you purchased your insurance.

Action Income Tax enrollment agent Peg Gasow tell WGIL’s Galesburg Live that those people who “went to the market” will see a much different return scenario than those who did not.

“You had told the marketplace you make $35,000 a year, and you told them there’s you and two kids, and they gave you a suggestion of a different policy, you chose one, and then there was a subsidy of $400. At this point in time, that was a Health and Human Services function,” said Gasow.

Gasow says that her company can not file a return without a ten ninety five form, which could be an additional issue for some outside buyers.

The Sandburg Board Thursday night approved a 2014 property tax levy request of just over $10 million — a $283,000 increase over last year, but due to an increase in property values, will result in a lower rate on property tax bills — about 61 cents per $100 of assessed value instead of 62.5 cents.

Sandburg CFO Lisa Blake tells WGIL that makes the college still a good value for the ten counties in the district.

“The people in the district should be happy,” Blake said. “Our board likes to keep their interests in mind. Also, they’re not interested in seeing tax levy rates do a roller-coaster, where you’re up and down every year. We like to try and keep things as consistent as we possible can, and still provide services to the communities.”

Blake says continued increases in farm land values are driving the overall equalized assessed value increasing. But she says that might come to an end in the next year. The district also stands to not get as much as they could in state aid, including once the temporary income tax increase expires at the end of this year.

The Sandburg Board Thursday night also approved support of the city of Galesburg’s application for a new enterprise zone with the state, once the current zone expires in 2016.

The Sandburg Board Thursday night approved a 2014 property tax levy request of just over $10 million — a $283,000 increase over last year, but due to an increase in property values, will result in a lower rate on property tax bills — about 61 cents per $100 of assessed value instead of 62.5 cents.

Sandburg CFO Lisa Blake tells WGIL that makes the college still a good value for the ten counties in the district.

“The people in the district should be happy,” Blake said. “Our board likes to keep their interests in mind. Also, they’re not interested in seeing tax levy rates do a roller-coaster, where you’re up and down every year. We like to try and keep things as consistent as we possible can, and still provide services to the communities.”

Blake says continued increases in farm land values are driving the overall equalized assessed value increasing. But she says that might come to an end in the next year. The district also stands to not get as much as they could in state aid, including once the temporary income tax increase expires at the end of this year.

The Sandburg Board Thursday night also approved support of the city of Galesburg’s application for a new enterprise zone with the state, once the current zone expires in 2016.

]]>http://wgil.com/v3/2014/12/20/sandburg-board-approves-property-tax-levy/feed/0Sandburg Board Approves Tax Levyhttp://wgil.com/v3/2014/11/19/sandburg-board-approves-tax-levy/
http://wgil.com/v3/2014/11/19/sandburg-board-approves-tax-levy/#commentsWed, 19 Nov 2014 22:21:45 +0000http://wgil.com/v3/?p=19536The Carl Sandburg College Board of Trustees say its property tax levy will go up, but not much, and not because they’re trying.The Sandburg Board last night approved a tentative property tax levy rate of 61 cents per 100 dollars of assessed value as part of their 2014 tax year request.

That will bring 10 million dollars into the district, more than last year- but Chief Financial Officer Lisa Blake tells WGIL the increase is almost out of their hands.

“The actual levy will go up approximately just shy of 3%, but that is due to an increase in EAV not due to an increase in the levy rate that the college will be taking to the counties.”

That’s the 10 counties in Sandburg’s District. The actual levy rate residents will see on their property tax bills is really a penny-and-a-half lower than last year.

Overall, Blake says the additional revenue will help given that the state continues to not pay all the money that’s promised, and she says the state revenue will only get worse if an income tax increase is allowed to sunset at the end for the year.

The Sandburg Board also approved a three-year extension of a contract with the Sandburg Education Association, which would now expire in 2019.

It’s part of an effort to negotiate contract extensions well before they expire, and will allow for three-percent pay raises starting in 2017.

]]>The Carl Sandburg College Board of Trustees say its property tax levy will go up, but not much, and not because they’re trying.The Sandburg Board last night approved a tentative property tax levy rate of 61 cents per 100 dollars of assessed value as part of their 2014 tax year request.

That will bring 10 million dollars into the district, more than last year- but Chief Financial Officer Lisa Blake tells WGIL the increase is almost out of their hands.

“The actual levy will go up approximately just shy of 3%, but that is due to an increase in EAV not due to an increase in the levy rate that the college will be taking to the counties.”

That’s the 10 counties in Sandburg’s District. The actual levy rate residents will see on their property tax bills is really a penny-and-a-half lower than last year.

Overall, Blake says the additional revenue will help given that the state continues to not pay all the money that’s promised, and she says the state revenue will only get worse if an income tax increase is allowed to sunset at the end for the year.

The Sandburg Board also approved a three-year extension of a contract with the Sandburg Education Association, which would now expire in 2019.

It’s part of an effort to negotiate contract extensions well before they expire, and will allow for three-percent pay raises starting in 2017.

]]>http://wgil.com/v3/2014/11/19/sandburg-board-approves-tax-levy/feed/0IL Lawmaker to be Sentenced in Federal Courthttp://wgil.com/v3/2014/11/07/il-lawmaker-to-be-sentenced-in-federal-court/
http://wgil.com/v3/2014/11/07/il-lawmaker-to-be-sentenced-in-federal-court/#commentsFri, 07 Nov 2014 16:58:47 +0000http://wgil.com/v3/?p=18759CHICAGO (AP) — Three days after being re-elected, Illinois state Rep. LaShawn Ford will learn if he’ll have to spend time behind bars for shortchanging the Internal Revenue Service of $3,782.

Friday’s sentencing in federal court in Chicago comes after prosecutors agreed to let Ford plead guilty to a lone misdemeanor tax charge. In return, they’re dropping nearly 20 felony bank-fraud charges that could have landed Ford in prison for decades.

Prosecutors never explained publicly why they chose not to pursue the more serious charges against the 42-year-old Chicago Democrat. But that issue could come up at Friday’s hearing.

Presiding over Ford’s case is Judge Rebecca Pallmeyer, who oversaw the 2006 corruption trial of former Republican Gov. George Ryan. A jury in the same courthouse convicted Democrat Rod Blagojevich of corruption in 2011.

]]>CHICAGO (AP) — Three days after being re-elected, Illinois state Rep. LaShawn Ford will learn if he’ll have to spend time behind bars for shortchanging the Internal Revenue Service of $3,782.

Friday’s sentencing in federal court in Chicago comes after prosecutors agreed to let Ford plead guilty to a lone misdemeanor tax charge. In return, they’re dropping nearly 20 felony bank-fraud charges that could have landed Ford in prison for decades.

Prosecutors never explained publicly why they chose not to pursue the more serious charges against the 42-year-old Chicago Democrat. But that issue could come up at Friday’s hearing.

Presiding over Ford’s case is Judge Rebecca Pallmeyer, who oversaw the 2006 corruption trial of former Republican Gov. George Ryan. A jury in the same courthouse convicted Democrat Rod Blagojevich of corruption in 2011.

Attorney General Lisa Madigan’s special prosecutions bureau and the Illinois Department of Revenue’s bureau of criminal investigation are involved in an ongoing operation against service station owners who under-reported revenues to avoid taxes.

Madigan’s office says 50 have been charged. Forty have been convicted and many of those imprisoned.

The crackdown has led to a stronger law against scofflaws. Madigan initiated the measure which took effect in January. It created stronger penalties and gave prosecutors greater ability to pursue Illinois businesses that evade sales taxes.

Madigan’s office says since the Democrat took office in 2003, it has collected more than $10 billion in revenue through litigation and collection efforts.

]]>SPRINGFIELD, Ill. (AP) — Officials say Illinois has received $100 million in sales taxes owed by gas station owners who didn’t pay all they owed.

Attorney General Lisa Madigan’s special prosecutions bureau and the Illinois Department of Revenue’s bureau of criminal investigation are involved in an ongoing operation against service station owners who under-reported revenues to avoid taxes.

Madigan’s office says 50 have been charged. Forty have been convicted and many of those imprisoned.

The crackdown has led to a stronger law against scofflaws. Madigan initiated the measure which took effect in January. It created stronger penalties and gave prosecutors greater ability to pursue Illinois businesses that evade sales taxes.

Madigan’s office says since the Democrat took office in 2003, it has collected more than $10 billion in revenue through litigation and collection efforts.

]]>http://wgil.com/v3/2014/10/24/il-collects-taxes-from-gas-stations/feed/0State: Jimmy John’s Founder Owes Taxes on Planeshttp://wgil.com/v3/2014/10/21/state-jimmy-johns-founder-owes-taxes-on-planes/
http://wgil.com/v3/2014/10/21/state-jimmy-johns-founder-owes-taxes-on-planes/#commentsTue, 21 Oct 2014 16:34:11 +0000http://wgil.com/v3/?p=17628SPRINGFIELD, Ill. (AP) — The state of Illinois says two companies that belong to the founder of the Jimmy John’s sandwich chain owe the state more than $1.4 million in taxes on a pair of corporate jets.

Attorneys for Jimmy John Liautaud say the state isn’t properly applying the tax code.

Liautaud has been an outspoken critic of Illinois’ income tax. In 2011 he threatened to move his company’s headquarters form Champaign to Florida over Gov. Pat Quinn’s decision to raise the tax.

According to the Springfield bureau of Lee Enterprises newspapers the state’s case against the two companies is pending before the Illinois Independent Tax Tribunal.

State attorneys argue the jets don’t qualify for a commercial-transportation exemption.

Attorneys for the companies say in court filings they believe the jets are exempt.

]]>SPRINGFIELD, Ill. (AP) — The state of Illinois says two companies that belong to the founder of the Jimmy John’s sandwich chain owe the state more than $1.4 million in taxes on a pair of corporate jets.

Attorneys for Jimmy John Liautaud say the state isn’t properly applying the tax code.

Liautaud has been an outspoken critic of Illinois’ income tax. In 2011 he threatened to move his company’s headquarters form Champaign to Florida over Gov. Pat Quinn’s decision to raise the tax.

According to the Springfield bureau of Lee Enterprises newspapers the state’s case against the two companies is pending before the Illinois Independent Tax Tribunal.

State attorneys argue the jets don’t qualify for a commercial-transportation exemption.

Attorneys for the companies say in court filings they believe the jets are exempt.

]]>http://wgil.com/v3/2014/10/21/state-jimmy-johns-founder-owes-taxes-on-planes/feed/0Library Board Shaping Goals, Revenue Requests Consideredhttp://wgil.com/v3/2014/09/19/library-board-shaping-goals-revenue-requests-considered/
http://wgil.com/v3/2014/09/19/library-board-shaping-goals-revenue-requests-considered/#commentsFri, 19 Sep 2014 13:57:37 +0000http://wgil.com/v3/?p=15257Meeting a few goals currently in development could take some additional revenue.

That’s according to the Galesburg Public Library’s Board of Trustees who met for a special work session meeting yesterday to continue honing a strategic plan for their services.

A point repeatedly brought up by the Galesburg City Council during budget season are the hours currently operated at the Library.

The Library goes through the City of Galesburg for its final budget approval and tax appropriation.

“I think we need to ask for the money to expand hours and if they don’t want to give us the money, then we can’t expand the hours, obviously,” says Reichel. “If they really, truly desire that we add more hours to our operation, then they should be willing to find a way to fund it.”

Among the goals the Library may soon be striving to accomplish includes educating residents about programs and promoting the library itself.

A tedious review of strengths and weaknesses was undertaken yesterday to ensure operations continue efficiently.

The Library Board’s strategic plan will likely be prepared for a vote at the full board meeting.

“I think we need to ask for the money to expand hours and if they don’t want to give us the money, then we can’t expand the hours, obviously,” says Reichel. “If they really, truly desire that we add more hours to our operation, then they should be willing to find a way to fund it.”

Among the goals the Library may soon be striving to accomplish includes educating residents about programs and promoting the library itself.

A tedious review of strengths and weaknesses was undertaken yesterday to ensure operations continue efficiently.

The Library Board’s strategic plan will likely be prepared for a vote at the full board meeting.